Q2 2024 Earnings Estimate for nVent Electric plc Issued By William Blair (NYSE:NVT)

nVent Electric plc (NYSE:NVT) – Research analysts at William Blair dropped their Q2 2024 earnings per share estimates for shares of nVent Electric in a research note issued to investors on Monday, May 6th. William Blair analyst B. Drab now forecasts that the company will post earnings of $0.82 per share for the quarter, down from their prior estimate of $0.83. The consensus estimate for nVent Electric’s current full-year earnings is $3.25 per share. William Blair also issued estimates for nVent Electric’s FY2025 earnings at $3.51 EPS.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Friday, May 3rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.04. nVent Electric had a return on equity of 17.47% and a net margin of 17.02%. The firm had revenue of $874.60 million during the quarter, compared to the consensus estimate of $864.14 million. During the same quarter in the previous year, the company posted $0.67 earnings per share. The business’s revenue was up 18.0% on a year-over-year basis.

Several other research firms have also recently commented on NVT. The Goldman Sachs Group raised their target price on shares of nVent Electric from $77.00 to $87.00 and gave the stock a “buy” rating in a research report on Monday. Citigroup boosted their target price on nVent Electric from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft initiated coverage on nVent Electric in a research note on Monday, March 11th. They set a “buy” rating and a $83.00 price target for the company. Barclays raised their target price on nVent Electric from $74.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Finally, Royal Bank of Canada cut their target price on nVent Electric from $89.00 to $88.00 and set an “outperform” rating for the company in a research report on Monday. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $87.00.

nVent Electric Stock Performance

nVent Electric stock opened at $77.59 on Tuesday. nVent Electric has a 1-year low of $40.22 and a 1-year high of $78.98. The firm has a market cap of $12.88 billion, a P/E ratio of 22.62, a P/E/G ratio of 1.63 and a beta of 1.35. The company has a current ratio of 1.99, a quick ratio of 1.35 and a debt-to-equity ratio of 0.54. The firm has a 50-day moving average of $72.84 and a 200-day moving average of $62.39.

nVent Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Thursday, April 25th. nVent Electric’s dividend payout ratio is currently 22.16%.

Insider Activity at nVent Electric

In related news, Director Randall J. Hogan sold 184,572 shares of nVent Electric stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $64.03, for a total transaction of $11,818,145.16. Following the completion of the sale, the director now owns 8,277 shares in the company, valued at approximately $529,976.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other nVent Electric news, Director Randall J. Hogan sold 184,572 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $64.03, for a total transaction of $11,818,145.16. Following the sale, the director now owns 8,277 shares of the company’s stock, valued at approximately $529,976.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Beth Wozniak sold 198,211 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $64.29, for a total value of $12,742,985.19. Following the sale, the chief executive officer now directly owns 342 shares in the company, valued at approximately $21,987.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 397,752 shares of company stock worth $25,553,202. Company insiders own 2.50% of the company’s stock.

Institutional Trading of nVent Electric

A number of institutional investors have recently bought and sold shares of the stock. FinTrust Capital Advisors LLC boosted its position in shares of nVent Electric by 17.5% during the 4th quarter. FinTrust Capital Advisors LLC now owns 1,056 shares of the company’s stock worth $62,000 after purchasing an additional 157 shares in the last quarter. HMS Capital Management LLC grew its position in nVent Electric by 3.2% during the first quarter. HMS Capital Management LLC now owns 5,837 shares of the company’s stock worth $440,000 after buying an additional 183 shares during the period. Private Advisor Group LLC grew its holdings in shares of nVent Electric by 3.2% in the 4th quarter. Private Advisor Group LLC now owns 6,216 shares of the company’s stock worth $367,000 after acquiring an additional 191 shares during the period. State of Michigan Retirement System grew its holdings in nVent Electric by 0.5% in the fourth quarter. State of Michigan Retirement System now owns 39,806 shares of the company’s stock valued at $2,352,000 after purchasing an additional 200 shares during the last quarter. Finally, Quent Capital LLC increased its position in shares of nVent Electric by 123.2% in the fourth quarter. Quent Capital LLC now owns 424 shares of the company’s stock valued at $25,000 after buying an additional 234 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

nVent Electric Company Profile

nVent Electric plc, together with its subsidiaries, designs, manufactures, markets, installs, and services electrical connection and protection solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management.